Core Viewpoint - American Coastal Insurance (ACIC) reported quarterly earnings of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.35 per share, and showing an increase from $0.34 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was 54.29%, with the company previously expected to post earnings of $0.30 per share but actually delivering $0.40 per share, resulting in a surprise of 33.33% [2] - Revenues for the quarter ended September 2024 were $82.14 million, which missed the Zacks Consensus Estimate by 2.81%, compared to $58.71 million in the same quarter last year [3] - Over the last four quarters, the company has surpassed consensus EPS estimates four times but has only topped consensus revenue estimates once [3] Stock Performance - American Coastal shares have increased approximately 35.6% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [4] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.15 on revenues of $79.51 million, and for the current fiscal year, it is $1.40 on revenues of $305.88 million [8] - The estimate revisions trend for American Coastal is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [7] Industry Context - The Insurance - Property and Casualty industry is currently ranked in the top 20% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9] - Another company in the same industry, HCI Group, is expected to report quarterly earnings of $0.39 per share, reflecting a year-over-year decline of 72.3% [10]
American Coastal Insurance (ACIC) Surpasses Q3 Earnings Estimates